Metagenomi (NASDAQ:MGX) Stock Rating Reaffirmed by Chardan Capital

Metagenomi (NASDAQ:MGX)‘s stock had its “buy” rating reissued by Chardan Capital in a research note issued to investors on Thursday, Benzinga reports. They currently have a $21.00 price target on the stock. Chardan Capital’s price objective points to a potential upside of 89.36% from the company’s previous close.

MGX has been the topic of a number of other reports. TD Cowen began coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “outperform” rating on the stock. Jefferies Financial Group initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They set a “buy” rating and a $23.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They issued an “overweight” rating and a $16.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Wells Fargo & Company initiated coverage on Metagenomi in a research note on Tuesday, March 5th. They set an “overweight” rating and a $25.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Metagenomi presently has an average rating of “Buy” and a consensus price target of $21.40.

Metagenomi Trading Down 2.0 %

MGX opened at $11.09 on Thursday. Metagenomi has a fifty-two week low of $9.74 and a fifty-two week high of $12.74.

Insider Buying and Selling

In other Metagenomi news, major shareholder Holdings A/S Novo purchased 800,000 shares of Metagenomi stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $12,000,000.00. Following the completion of the acquisition, the insider now owns 1,739,175 shares in the company, valued at approximately $26,087,625. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

About Metagenomi

Metagenomi, Inc, a gene editing biotechnology company, develops therapeutics for patients using metagenomics-derived genome editing toolbox in the United States. The company's genome editing toolbox includes programmable nucleases, base editors, and RNA and DNA-mediated integration systems, such as prime editing systems and clustered regularly interspaced short palindromic repeat-associated transposases.